how can we help each other? The Warpath Community Center

GMScud · 06-29-2010, 12:53 PM

The FHA is the Federal Housing Administration. It's government lending. They will lend up to 97.75% of the appraised value of a property, and the loan you're looking for is well within their limits, and your credit score will be fine as well. They typically lend at lower rates than private lenders, however with FHA loans you are required to escrow taxes and insurance, and there is always MI (mortgage insurance) attached to the loan.

06-29-2010, 12:53 PM	#11
GMScud Swearinger Join Date: Sep 2006 Location: Washington, DC Posts: 12,626	Re: how can we help each other? The Warpath Community Center The FHA is the Federal Housing Administration. It's government lending. They will lend up to 97.75% of the appraised value of a property, and the loan you're looking for is well within their limits, and your credit score will be fine as well. They typically lend at lower rates than private lenders, however with FHA loans you are required to escrow taxes and insurance, and there is always MI (mortgage insurance) attached to the loan. __________________ Tardy

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how can we help each other? The Warpath Community Center

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